There is strong indication that Cyclohexanone prices will rise in the near term as its feedstocks price, Benzene, is impacted by volatility in crude oil. Last week bent crude prices peaked at $108.39 a barrel as a consequence of geopolitical tensions in European Union and Middle East.
In similar fashion, benchmark Benzene prices also peaked last week at $1,402 per metric tonne FOB South Korea before declining to $1,372 per metric tonne FOB Korea this week, according to Indianpetrochem price database.
At present, the bulk price of Cyclohexanone is at trading range of Rs.133-134 per kg, the prices have been on an uptrend since the beginning of the month.
On 1st July, 2014, Gujarat State Fertilisers & Chemicals Limited (GSFC) increased the basic price of Cyclohexanone by Rs. 4 per kg to Rs. 136 per kg, as a result of rising Benzene prices, a company official informed. In line with this domestic trend, the bulk price of Cyclohexanone this month has gained from lows of Rs. 130 per kg to current levels, various traders cite.
Its understood from many traders in the market that currently the overall demand for Cyclohexanone is moderate in Indian market, with active purchasing from the pesticide industry. On this matter, a GSFC official added, the demand from pesticide industry this year has diminished as compared to previous year, erratic rainfall this year being the primary culprit.
Most traders have expectations that the price of Cyclohexanone is set to rise in the near future due to escaling Benzene prices in international market." During crude oil price hike last month, the benchmark price of Cyclohexanoen rose by $90 per metric tonne in the Asian market", a prominent importer informed. Currently, the landing price of Cyclohexanone is on an average $1860 per metric tonne CFR India.
(This article was published on the website on July 30, 2014)
In similar fashion, benchmark Benzene prices also peaked last week at $1,402 per metric tonne FOB South Korea before declining to $1,372 per metric tonne FOB Korea this week, according to Indianpetrochem price database.
At present, the bulk price of Cyclohexanone is at trading range of Rs.133-134 per kg, the prices have been on an uptrend since the beginning of the month.
On 1st July, 2014, Gujarat State Fertilisers & Chemicals Limited (GSFC) increased the basic price of Cyclohexanone by Rs. 4 per kg to Rs. 136 per kg, as a result of rising Benzene prices, a company official informed. In line with this domestic trend, the bulk price of Cyclohexanone this month has gained from lows of Rs. 130 per kg to current levels, various traders cite.
Its understood from many traders in the market that currently the overall demand for Cyclohexanone is moderate in Indian market, with active purchasing from the pesticide industry. On this matter, a GSFC official added, the demand from pesticide industry this year has diminished as compared to previous year, erratic rainfall this year being the primary culprit.
Most traders have expectations that the price of Cyclohexanone is set to rise in the near future due to escaling Benzene prices in international market." During crude oil price hike last month, the benchmark price of Cyclohexanoen rose by $90 per metric tonne in the Asian market", a prominent importer informed. Currently, the landing price of Cyclohexanone is on an average $1860 per metric tonne CFR India.
(This article was published on the website on July 30, 2014)
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